THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Social shopping set to double by 2014

Following news that Pinterest is to significantly increase the number of visitors who can access its site, new research commissioned by eBay estimates that the value of social shopping is set to more than double by 2014.

GENERAL MERCHANDISE

Social shopping set to double by 2014

Following news that Pinterest is to significantly increase the number of visitors who can access its site, new research commissioned by eBay estimates that the value of social shopping is set to more than double by 2014.

The study conducted by Conlumino, estimates that in the next five years the value of social shopping will rise from £1.6 billion to around £3.3 billion. It also found that UK retail sales directly via social media are forecast to grow by 44% to £290 million by 2014 as more and more retailers target consumers with personalised offers and deals on social networks.

However, Ebay says the real value from social media will come from the way it is used to influence and inspire purchases, with £3 billion of retail sales predicted to be influenced by social media by 2014.  Nearly half (46%) of social media users were found to be already using social platforms while thinking about making a purchase, with  40% of users actively deciding what to buy based on what they have seen on social media platforms, including reviews and recommendations.

The research also revealed that nearly half of social media users are interacting directly with retailers on social media platforms.

Petra Jung, head of mobile shopping at eBay said: "There’s a billion pound prize for UK retailers in using social to help customers make up their minds when they’re looking to buy something. Generating direct sales is part of the prize in social shopping but using peer-to-peer networks to influence purchasing decisions is the far bigger opportunity. 

"Many shoppers, particularly women, want fun and inspiration as much as information when they shop, and social networks are a great way to seek out a friend’s advice, see other people’s style, and get ideas."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues